craigc

9 ms·

31.
by craigc 8y ago
I am not going to make the argument that Bitcoin is energy efficient cause I know that it isn’t, but it is designed to be inefficient on purpose in order to provide trust in a decentralized way. Does that make it a good use of energy? Tha
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by craigc 8y ago
Good to know, but my question really has to do with if the extra cost for doctors, hospitals, drugs, etc. is used to offset R&D costs. What I am getting at is that in theory, it should still be possible to do a lot of great R&D work
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by craigc 8y ago
Do you have any sources/data for this? I would be very curious to see it. The mentioned costs in this article only point to > higher drug prices, higher salaries for doctors and nurses, higher hospital administration costs and highe
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by craigc 8y ago
Mmm I should have clarified my comment. I understand that, but in this case the prices also increased in the US.
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by craigc 8y ago
I totally understand that. I should have clarified that I meant in US markets. Cause the iPhone prices also increased in the United States IIRC.
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by craigc 8y ago
I totally agree with you. This also does not make any sense to me: > US dollar strength-related price increases A weaker dollar (due to inflation, etc.) is the reason that consumer prices increase. A stronger dollar in theory should ma
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In the Age of A.I., Is Seeing Still Believing?(newyorker.com)
2 points by craigc 8y ago|0 comments
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by craigc 8y ago
That’s an interesting idea. How could you see that working in practice?
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by craigc 8y ago
Thank you. I think you are right. I think it’s impossible to reach any sort of consensus when two groups have fundamentally different views. I’m going to just try to stay out of it from now on. Not worth the time or energy. Especially when
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by craigc 8y ago
I understand that that is the driving force behind Keynesian economics, and I think you have a valid point. That said, when you consider the way inflation actually works most of the new money pumped into the system disproportionately benefi
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by craigc 8y ago
Thanks. I am well aware of all the things you pointed out. I think we just have a different opinion of what stable is or should be. I think a currency that has $1.00 worth of purchasing power when I am given it should not lose 99% of its va
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by craigc 8y ago
Can you please point out the false facts to me?
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by craigc 8y ago
Thank you for posting this. Not surprising to see you getting downvoted to oblivion here, but this is something that people really need to keep an open mind about.
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by craigc 8y ago
Right, and how is that going for them? The average home cost around $3,400 in 1913 (when the FED was created), and today is around $200,000. And $1 is still worth $1.
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by craigc 8y ago
Gold isn’t valuable because of its utility to industry. It is valuable because of its scarcity.
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by craigc 8y ago
I think it means they are open to doing it, and will be happy to do it in the future as long as they don’t get caught.
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Fox AI predicts a movie's audience based on its trailer(engadget.com)
3 points by craigc 8y ago|0 comments
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by craigc 8y ago
Those were three separate ideas. A bank run would most likely be a result of deflation, yes, but it is not guaranteed that if that were to occur that the bank would be able to stay solvent. The inflation example can already be seen in Venez
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by craigc 8y ago
I totally agree with your sentiment, but I will say one thing. If there is some shock in the world economy crypto could be a way out. Imagine - A bank run where every bank goes under and it is not possible to easily bail them out - The gove
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by craigc 8y ago
> We can solve the scalability problems of blockchain. The thing that keeps me up at night is not scalability, it is user adoption beyond the use cases which Bitcoin already successfully fulfills. Fair point. But none of the biggest chai
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by craigc 8y ago
I didn’t say that all the problems have been figured out, but I feel like you are being a little close minded with regards to the idea. Maybe properties would use some form of multi signature transactions so a single person hacking it would
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by craigc 8y ago
The biggest problem is that blockchains are inherently not scalable. That is more or less by design, but it limits the types of applications that can run on top of them. I think a more likely outcome is that most types of payment infrastruc
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by craigc 8y ago
I agree, but if you had financed the operation with Bitcoin would you have left a trail of hundreds of emails specifying each Bitcoin transaction and what they were used for like the indictment claims? Only saying that if they were dumb eno
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by craigc 8y ago
I wouldn’t say it is embarrassingly incorrect. Nothing in that article proves that the report I referenced is not a possibility. I agree it makes it less likely because the files could have been copied multiple times which could change th
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by craigc 8y ago
First of all, I was not presenting it as fact. Merely as a possibility and something to consider. Second, I read the disclosure, and all it does is point out that it is a possibility and not a fact. It also points out that the intelligence
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by craigc 8y ago
Two other points worth noting 1. The FBI never had physical access to the hacked servers and were relying completely on the report from a third party company, CrowdStrike: http://thehill.com/policy/national-security&#x2
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by craigc 8y ago
The only problem is there is no way to prove that that address actually belongs to the GRU. The transaction referenced in the indictment clearly happened, but Mueller and his team could have easily searched through the Bitcoin blockchain to
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by craigc 8y ago
Username checks out
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by craigc 8y ago
Okay cool so that confirms what I said that mining was not the sole source of the funds
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by craigc 8y ago
I would be very surprised if mining was the sole source of the funding simply because mining hardware is so expensive, and it would take a long time to mine $90,000. The Bloomberg article says > the defendants conspired to launder th

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